Nigeria’s Fuel Subsidy Dilemma Deepens as Debt to Suppliers Soars
Nigeria’s state oil company NNPC faces mounting challenges as its debt to gasoline suppliers has surged to over $6 billion, doubling since April. This financial […]
debt
Kenya Faces Fiscal Dilemma as Ruto Opts for Borrowing Over Tax Hikes
In the wake of rejected tax increases and violent protests, Kenyan President William Ruto has announced plans to borrow heavily to address the country’s growing […]
Ghana Unable to Secure Debt Agreement with Global Bondholders
Ghana’s attempts to restructure its $13 billion international bond debt have hit a snag, according to government sources on Monday, dealing a setback to its […]
Somalia Achieves 99% Debt Cancellation from Paris Club Creditors
Somalia successfully negotiated the elimination of 99% of its debt to members of the Paris Club, marking a significant achievement in the nation’s journey to […]
Ethiopia officially in debt default
The long-awaited news became official on Tuesday December 26: Ethiopia has defaulted on its debt. The country has defaulted on its last payment of $33 […]
Cost of servicing Mozambique’s debt rises 18% in 2024 to 1,712 ME
Mozambique’s debt servicing costs will grow by 18% in 2024, to more than 116,631 billion meticais (1,712 million euros), according to Mozambican Government figures. According […]
Angola and Mozambique are the Portuguese-speaking African countries with the riskiest debt
The director of the emerging markets department at Oxford Economics said Sunday that Angola and Mozambique are the Portuguese-speaking African countries most at risk of […]
Cape Verde points to climate resilience as biggest challenge for small island States
Cape Verde has identified climate resilience as the biggest challenge facing the Small Island Developing States (SIDS), which want to have a common position on […]
Cape Verde: Central Bank warns of “high level” of non-performing loans
The Bank of Cape Verde on Monday August 21 warned of the high level of non-performing loans on the balance sheet of banking institutions in […]
Angola settled almost 400 ME of overdue debt in 2022
The Angolan government paid in 2022 362 billion kwanzas (€397 million) of debt to creditors with emphasis on the National Electricity Company (Ende) and Chinese […]